Wood and forestry product exports exceed annual plan by 13%

Wood and forestry product exports are estimated to reach over 17.2 billion USD in 2024, up 18.9%. (Illustrative photo: moit.gov.vn)

According to a report of the Department of Forestry, export value of wood and forestry products in the first eleven months of 2024 is estimated at 15.62 billion USD, up 19.8% year on year. Of which, wood products are worth 10.09 billion USD (up 22.5%); Raw wood 4.58 billion USD (up 17.8%); and non-timber forest products 0.95 billion USD (up 4.4%).

The trade surplus in the eleven months reached 13.11 billion USD. Wood and forestry product export value is estimated to reach over 17.2 billion USD, up 18.9% compared to 2023, exceeding the 2024 plan by 13.1%.

According to Mr. Nguyen Quoc Khanh, Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), Vietnam's wood and wood product exports are growing thanks to positive signals from markets such as the US and the EU. In which, the US is still the largest market, accounting for 52-55% of Vietnam’s wood export value.

By 2025, the forestry sector strives to achieve a growth rate of 4.5-5% in forestry production value. Forest product export value will reach 18 billion USD and concentrated forest planting will reach 250,000 hectares. The forest area certified for sustainable forest management will be 70,000 hectares, with forest environmental service revenue of 3,200 billion VND./.